Manti Reporter | 1893-01-28 | Page 2 | Local News

The many failures throughout the country is not due to a lack of business ; but to' a lack of money whereby to meet the volume of bus-bees bus-bees transacted. It is the credit system that accounts for assign- ments being made ,by the leading business houses all over the United States. Peter owes Paul, and Paul owes John; Peter has property but no money; and so when payment is due Paul cannot collect in order to pay his indebtedness to John and the result is that all three go under. un-der. According to the argument of our eastern friends it is a dime to haYe enongh money in circula-ta circula-ta carry on the business of the country. The west produces silver If the mine owners could take their silver to the mints and have it coined into legal tender money, as he could do prior to 1893, he could pay h's employees the highest wages and not curtail his force, He could put in the latest improved machinery and give large orders to our wholesale men. The money would find its way into the channels of trade; building would be revived improvements made; and the masses mass-es could go into any store and pay cooh for what they got. As it is they ask for credit; and when the merchant gets a sight draft he has nothing but accounts to meet it with. The cause of this desjress is is a contraction of th ciroulating medium of the couutry by the destruction des-truction of half of the money metal The bondholder f and the money lender is gttting rich by this system as money becomes dearer the more the supply becomes deficient; but the people; they must suffer, and if this iniquitous practice continues they will soon be reduced to a state of peonage Jworbe than slavery Salt Lake Stock and Mining Journal.